Effectiveness of high interest rate policy on exchange rates: A reexamination of the Asian financial crisis

1UQ Business School, The University of Queensland, Brisbane QLD 4072, Australia2School of Finance & Applied Statistics, College of Business and Economics, The Australian National University, Canberra ACT 0200, Australia3Institute of Information Sciences and Technology, Massey University, Palmerston North, New Zealand

Received 25 December 2005; Revised 29 June 2006; Accepted 30 June 2006

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